Worldcoin (WLD) has maintained its position above $0.47 as of June 8, weathering a sell-off by prominent crypto figure Arthur Hayes and a separate dispute between crypto exchange HTX and World Liberty Financial (WLFI) that has rattled sentiment across AI-linked tokens. Despite the turbulence, the token's technical picture remains broadly bullish, with traders closely watching a key resistance level that could determine the next directional move.
Arthur Hayes Exits WLD Position
The volatility began on June 4 when Maelstrom researcher Lukas Ruppert published a bullish note on Worldcoin, calling it an "overlooked" bet on the wave of AI mega IPOs and setting a $5 price target by August—a more than 900% increase from then-current levels. The note sparked a rally that pushed WLD to $0.60 by June 6. However, just two days later, Maelstrom co-founder Arthur Hayes announced on X that he had sold his entire WLD position, stating "this chart is going in the wrong direction" alongside a chart of the SpaceX pre-IPO perpetual futures contract, which had dropped sharply. "Dumped WLD. I'm out," he added.
The exit surprised many, particularly given Hayes had indicated just days earlier that he planned to hold WLD through the SpaceX Nasdaq IPO, expected this coming Friday. The move drew public criticism, including from on-chain analyst ZachXBT. WLD initially dropped from $0.60 to around $0.40 following Hayes' announcement but has since recovered to $0.4746, up 6.8% in the past 24 hours and 24.8% over the past seven days. Trading volume stands at $563.8 million, reflecting active participation despite the negative headlines.
This is not the first time Hayes has reversed course. In March, he predicted Hyperliquid (HYPE) would reach $150 by August, and on June 1, he doubled down, saying HYPE would outperform every other top-ten crypto through year-end. Three days later, he sold everything. He also sold his Zcash (ZEC) holdings on June 5 after a critical vulnerability was discovered in its privacy protocol, having previously said ZEC would reach 10% of Bitcoin's price. Notably, a wallet linked to Hayes bought back roughly 33,978 HYPE, worth around $2 million, shortly after selling, following a 26% price drop.
HTX Delists USD1 Amid WLFI Dispute
Adding to the developments around Worldcoin, crypto exchange HTX has delisted the USD1 stablecoin issued by World Liberty Financial (WLFI), the DeFi project tied to the Trump family, after WLFI froze several HTX-linked blockchain wallet addresses. WLFI stated the freeze was part of a sanctions compliance review, citing UK sanctions against Huobi Global S.A., an entity associated with the HTX brand, over alleged facilitation of financial services benefiting the Russian government. HTX rejected this explanation, arguing the freeze came without legal grounding, advance warning, or any opportunity to respond.
In response, HTX suspended USD1 deposits and conversions and removed trading pairs including USD1/USDT, BTC/USD1, ETH/USD1, and WLFI/USDT. Users holding USD1 on the platform will have their balances automatically converted to Tether (USDT) at a 1:1 ratio. The conflict has a backstory: HTX adviser Justin Sun had previously filed legal proceedings against WLFI, claiming his tokens were frozen without justification. WLFI countered with a defamation lawsuit against Sun, alleging false statements and breach of the WLFI token sale terms. The delisting of USD1 is the latest escalation in an increasingly bitter dispute.
Technical Analysis: Bullish Signals Persist
Despite the negative news flow, WLD's technical setup remains constructive. According to analysts, out of 23 indicators, 14 are currently bullish, none are bearish, and 9 are neutral. Moving averages alone show 12 buy signals against zero sell signals. On the daily chart, WLD is trading above all five key exponential moving averages—the 10, 20, 50, 100, and 200-day EMAs—with each one now sitting below price as dynamic support. Trading above the 200-day EMA is generally seen as a sign that the broader trend structure remains intact.
The Relative Strength Index (RSI-14) is currently at 60.70, placing it in neutral territory. It has not pushed into overbought territory above 70, suggesting the recent rally has not been excessively stretched. The key level to watch on the upside is $0.5418. WLD needs to close above that level on the daily chart to confirm a continuation of the uptrend. That level is close to the $0.60 high reached after Maelstrom's bullish note was published. On the downside, support sits at $0.3732. A daily close below that level could open the door to further losses.
For added context, WLD hit an all-time low of $0.2303 on May 18, 2026, just 21 days ago, and has since gained more than 105% from that bottom. It remains, however, 96% below its all-time high of $11.74, which was set in March 2024. Whether WLD can push past $0.5418 and revisit the highs from earlier this week will likely depend on broader market conditions and whether the SpaceX IPO narrative continues to drive interest in AI-adjacent crypto assets. For more on AI-related market moves, see Broadcom Rises 2% on Morgan Stanley Upgrade, AI Revenue Forecast of $120B by 2027 and Dow Gains 140 Points as Chip Stocks Rebound Ahead of Big Tech Earnings.
This article is for informational purposes only and does not constitute financial advice.
